Is Private Credit Becoming the Public’s Problem?
![Is Private Credit Becoming the Public’s Problem?](https://webapi.project-syndicate.org/library/78ae1c5f37a273e2e8d70d653a2a8b14.16-9-xlarge.1.jpg)
Given the explosive growth of private credit over the past 15 years, it is understandable that regulators and central bankers are taking a greater interest in the industry. But a recent US court ruling suggests that some authorities have already overreached, and are focusing on the wrong dimension of the problem.